Catalog Management System Market Demand, and Business Prospects Till 2028

Catalog Management System Industry Overview

The global catalog management system market size is projected to reach USD 9.3 billion by 2028, expanding at a CAGR of 12.5% over the forecast period, according to the research conducted by Grand View Research, Inc. The growing demand from consumers for products such as fashion and apparel and wearable devices, rising internet usage, and increasing smartphone penetration across the globe are some of the factors anticipated to provide lucrative growth opportunities for catalog management solutions over the forecast period.

U.S. catalog management system market size, by deployment type, 2018 - 2028 (USD Million)

Catalog Management System Market Segmentation

Grand View Research has segmented the global catalog management system market based on type, component, deployment type, organization size, application, and region:

Based on the Type Insights, the market is segmented into Product Catalog and Service Catalog.

  • The product catalog segment dominated the market in 2020 and accounted for a market share of more than 65%. The segment growth can be attributed to the increasing penetration of e-commerce websites and online retail stores wherein users can shop for their desired products under one application.
  • The service catalog segment is anticipated to expand at the highest CAGR of 13.4% over the forecast period. The segment growth can be attributed to the increasing demand for post-purchase services of tangible products. The use of a service catalog significantly reduces management costs, improves user self-service capabilities, and enhances the user experience by offering detailed information about service catalog’s applications (price, description, approvals, and delivery) and their application statuses.

Based on the Component Insights, the market is segmented into Solution and Service.

  • The solution segment dominated the market in 2020 and accounted for a revenue share of more than 65%. The increasing demand for catalog management systems can be attributed to the growing demand for these systems among organizations, including SMEs and large enterprises. Catalog management assists in reducing the overall cost of service delivery and helps in improving customer experience, boosting employee efficiency, and increasing the overall business functioning.
  • The service segment is anticipated to expand at the highest CAGR of 13.4% over the forecast period. The segment will witness significant growth owing to the managed and professional services offered by various catalog management systems providers. The increasing need for cloud-based managed services and the growing dependence of organizations on IT assets to improve their business productivity are the major factors contributing to the growth of the managed services

Based on the Deployment Type Insights, the market is segmented into On-premise and Cloud.

  • The cloud segment dominated the market in 2020 and accounted for a revenue share of more than 58.0%. Cloud deployment of catalog management systems helps increase flexibility and further allows businesses to customize services and products on a large scale. Cloud deployment assists businesses in improving cost structures and setting up a control center to arrange, monitor, and coordinate various components of their digital marketing campaigns.
  • The on-premise segment is anticipated to expand at a CAGR of 9.6% from 2021 to 2028. The segment is expected to witness significant growth over the forecast period due to the security assistance offered by this deployment type, including data security and transparency.

Based on the Organization Size Insights, the market is segmented into Small & Medium Enterprise and Large Enterprise.

  • The large enterprise segment accounted for a market share of 56.1% in 2020. Large enterprises have an extensive business network and diverse revenue streams. Hence, large enterprises opt for innovative and new technologies and solutions to expand their business operations. Furthermore, the increasing role of government authorities in the provision of capital to large enterprises for adopting digitization is anticipated to propel the growth of this segment.
  • The small and medium enterprise segment is anticipated to register a CAGR of 16.0% over the forecast period. The segment growth can be attributed to the growing number of small and medium enterprises in several countries across the globe, including India, the U.S., and China. SMEs mainly adopt cloud-based catalog management system solutions owing to benefits such as lower deployment costs. SMEs are also opting for cloud-based catalog management systems to opt for the digitization of their products.

Based on the Application Insights, the market is segmented into BFSI, Retail & E-commerce, IT & Telecom, Media & Entertainment, and Others.

  • The BFSI segment accounted for a revenue share of more than 34.0% in 2020. BFSI companies are updating their data platforms and related toolsets to cater to the changing demands of various data practitioners, including data analysts, reporting analysts, data scientists, business intelligence, and businesses and personnel embracing self-service technology. With the increasing data, products, and services offered by BFSI companies, the demand for catalog management systems is expected to increase over the forecast period.
  • The retail and e-commerce segment is anticipated to expand at a CAGR of 13.4% from 2021 to 2028. The increasing adoption of advanced services and technologies owing to the vast volume of product data is anticipated to propel the segment growth. Digital transformation initiatives opted in the retail and e-commerce application to meet customer requirements are expected to further support the segment growth.

Catalog Management System Regional Outlook

  • North America
  • Europe
  • Asia Pacific
  • Latin America
  • Middle East & Africa

Key Companies Profile & Market Share Insights

The market players emphasize adopting strategic initiatives such as partnerships and collaborations and mergers and acquisitions to enhance their position in the market and attain a competitive edge.

Some of the prominent players operating in the global catalog management system market include,

  • Oracle Corporation
  • Fujitsu Limited
  • Salsify
  • SAP SE
  • International Business Machines Corporation

Order a free sample PDF of the Catalog Management System Market Intelligence Study, published by Grand View Research.

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